Friday, November 19, 2004

Boston.com / Business / Oracle advances in PeopleSoft takeover fight

Boston.com / Business / Oracle advances in PeopleSoft takeover fight: "Oracle Corp. moved closer to victory in its $8.8 billion hostile takeover bid for PeopleSoft Inc.
California Public Employees' Retirement System, the largest US pension fund and owner of 1.5 million PeopleSoft shares, said it tendered in favor of keeping the offer alive. PeopleSoft executives wrote to employees telling them not to be surprised if Oracle wins the majority of votes.
'We think they'll get it,' Tom Burnett, the president of Merger Insight, an affiliate of brokerage Wall Street Access, said of the share tender. 'That's more important than anything else.'"